Sri Lanka and India agree to set new standard in bilateral ties
In a landmark move, Sri Lanka and India have agreed to elevate their bilateral relations to unprecedented levels, marking a new chapter in their long-standing friendly ties. This agreement was reached during the official talks held in New Delhi between Sri Lankan President Anura Kumara Dissanayake and Indian Prime Minister Narendra Modi. The talks, which […]
Sri Lanka Surpasses 1.9 Million Tourists, Eyes Record Growth in 2024
Sri Lanka’s tourism industry is celebrating a strong comeback, with over 1.9 million tourists visiting the island by mid-December 2024. The Sri Lanka Tourism Development Authority (SLTDA) Chairman, Buddhika Hewawasam, expressed optimism about the sector’s continued growth, projecting a total of 2.2 million visitors by the end of the year. This milestone marks a significant […]
Colombo Stock Exchange Surges by Rs. 1 Trillion
Investors are riding high on optimism as the Colombo Stock Exchange (CSE) marks historic milestones under President Anura Kumara Dissanayake’s leadership. The market’s value has skyrocketed by Rs. 1 trillion since his election, with the All Share Price Index (ASPI) breaking the 14,000-point barrier for the first time in history. Record-Breaking Performance For the 13th […]
Sri Lanka Customs Set to Achieve Historic Rs. 1.5 Trillion Revenue Target in 2024
Sri Lanka Customs is on track to make history by surpassing Rs. 1.5 trillion in revenue for the first time. With less than a month remaining in 2024, the Department has already collected over Rs. 1.41 trillion, signaling a strong finish to the year. Record-Breaking Revenue Growth Director General Sarath Nonis revealed that as of […]
Argentina’s Fiscal Triumph: The Milei Miracle
In the annals of economic history, few stories are as striking as the fiscal turnaround witnessed in Argentina under President Javier Milei. A year ago, the nation grappled with an economic narrative more akin to a cautionary tale than a success story, characterized by rampant inflation, excessive government spending, and a fiscal deficit that seemed […]
Food Policy and Safety Committee to boost national food security
Ensuring food security is one of the most critical challenges for any nation. To address this, Sri Lanka has introduced a major step forward by forming the Food Policy and Safety Committee under the Presidential Office. This initiative, approved by the Cabinet of Ministers on December 11, 2024, reflects the government’s commitment to ensuring that […]
Japan’s shipbuilding giant Onomichi to exit Sri Lanka
IntroductionColombo Dockyard PLC (CDL), Sri Lanka’s pioneering shipbuilding and repair company, is at a pivotal moment in its history as its majority shareholder, Japan’s Onomichi Dockyard Company Ltd., has decided to exit. This decision brings an end to over three decades of partnership and leaves CDL in search of a new strategic investor to ensure […]
Tourism earnings up 56% to $ 2.8 b in first 11 months
Sri Lanka’s tourism sector has showcased a stunning recovery in 2024, recording a 56% increase in revenue, accumulating over $2.8 billion in the first 11 months of the year(Tourism Earnings). This significant growth highlights the industry’s potential as a major contributor to the country’s economic revival. November 2024: A Month of Remarkable Growth In November […]
Palm oil industry pushes for ban reversal under new Govt.
Sri Lanka’s palm oil industry is urging the government to reconsider the 2021 ban on oil palm cultivation. Advocates argue that lifting the ban could provide significant economic, environmental, and strategic benefits. During the Palm Oil Industry Association of Sri Lanka (POIASL)’s fifth Annual General Meeting (AGM), its president, Dr. Rohan Fernando, emphasized the importance […]
Experts urge caution as Govt. prepares to lift vehicle import restrictions
As Sri Lanka prepares to lift restrictions on vehicle imports early next year, industry experts are urging the government to prioritize importing new vehicles over used ones. They warn of significant environmental, economic, and technological consequences if outdated vehicles are allowed to flood the market. The Risks of Reintroducing Used Vehicles Experts emphasize the challenges […]